Lucky Cement Limited, one of Pakistan’s largest cement producers, has announced plans to invest up to Rs. 1.2 billion in its associated company, National Resources (Private) Limited (NRL), following a major copper and gold discovery in Chagai, Balochistan.
In a notice to the Pakistan Stock Exchange (PSX) on Monday, the company said its Board of Directors had approved an additional equity investment in NRL. The plan involves subscribing to new shares and acquiring 250 ordinary shares from Muhammad Ali Tabba, a related party.
The investment will fund NRL’s pre-feasibility activities, including geological surveys, drilling, and mineral resource estimation. The proposal remains subject to corporate and regulatory approvals, including shareholder consent in accordance with Section 199 of the Companies Act, 2017, and the Companies (Investment in Associated Companies or Associated Undertakings) Regulations, 2017.
Lucky Cement currently holds a 33.33% equity stake in NRL, a joint venture engaged in the exploration and mining of metals, with a focus on gold and copper. In April, NRL announced the discovery of significant copper-gold mineralisation in Chagai, a region renowned for its mineral wealth.
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